The Federal Reserve says its new stimulus could help solve the nation’s jobs crisis, but Swiss investor Marc Faber instead sees an apocalypse ahead.
The Zurich-born investor, and publisher of the Gloom Boom & Doom Report, joined Bloomberg TV today to make known his pessimism about the Fed’s new plan to help invigorate a sluggish labor market. The problem, he says, is that the money will benefit rich people like himself, not the “man on the street.”
“Congratulations, Mr. Bernanke. I’m happy,” he told Bloomberg TV’s Betty Liu. “My asset values go up but as a responsible citizen I have to say the monetary policies of the U.S. will destroy the world.”
Watch the video here: http://www.huffingtonpost.com/2012/09/14/marc-faber-stimulus-federal-reserve-destroy-world_n_1884709.html?utm_hp_ref=business